Raymond James & Associates Sells 26,267 Shares of CDW Co. (NASDAQ:CDW)

Raymond James & Associates cut its position in CDW Co. (NASDAQ:CDW - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 121,334 shares of the information technology services provider's stock after selling 26,267 shares during the period. Raymond James & Associates owned about 0.09% of CDW worth $27,582,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in CDW in the third quarter worth $25,000. VisionPoint Advisory Group LLC acquired a new stake in shares of CDW during the third quarter worth $28,000. TFC Financial Management Inc. raised its holdings in shares of CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 55 shares during the period. Orion Capital Management LLC acquired a new stake in shares of CDW during the third quarter worth $35,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of CDW during the fourth quarter worth $33,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of CDW from $253.00 to $267.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. Evercore ISI raised their target price on shares of CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, March 22nd. Barclays raised their target price on shares of CDW from $219.00 to $261.00 and gave the company an "equal weight" rating in a research report on Thursday, February 8th. Finally, Morgan Stanley downgraded shares of CDW from an "overweight" rating to an "equal weight" rating and set a $216.00 target price for the company. in a research report on Tuesday, December 12th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $228.60.

CDW Stock Performance

Shares of CDW stock traded down $2.09 during midday trading on Friday, hitting $255.78. 772,263 shares of the company were exchanged, compared to its average volume of 653,620. CDW Co. has a 52 week low of $160.66 and a 52 week high of $259.38. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The firm's 50 day moving average price is $242.60 and its two-hundred day moving average price is $223.16. The firm has a market capitalization of $34.33 billion, a P/E ratio of 31.58, a PEG ratio of 2.90 and a beta of 1.09.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.32 billion. During the same quarter in the previous year, the company earned $2.40 EPS. The business's revenue was down 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that CDW Co. will post 9.88 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, February 23rd. CDW's payout ratio is presently 30.62%.

CDW declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.